K92 Mining Announces Voting Results of Annual General Meeting of Shareholders
K92 Mining has announced the results of its 2024 Annual General Meeting (AGM) held on June 27. All proposed resolutions were passed, with a total of 141,520,311 common shares (59.80% of issued shares) voted. Seven directors were elected, including Mark Eaton, Anne E. Giardini, and Cyndi Laval. Key resolutions included setting the number of directors at seven, re-appointing PricewaterhouseCoopers as auditor, approving the Amended Share Compensation Plan, and a non-binding advisory vote on executive compensation. Details are available on the company's website and SEDAR+.
- All proposed resolutions at the AGM were passed.
- A total of 59.80% of issued shares were voted.
- Seven directors were elected, showcasing strong shareholder support.
- Approval of the Amended Share Compensation Plan.
- 10.44% of votes were against the Amended Share Compensation Plan.
VANCOUVER, British Columbia, June 27, 2024 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce the voting results of its 2024 annual general and special meeting (“AGM”) of shareholders that was held today as a virtual and in-person event. All of the resolutions proposed at the meeting were duly passed.
A total of 141,520,311 common shares, representing
| Name of Nominee | Votes For | Votes Withheld | ||
| Number | % | Number | % | |
| Mark Eaton | 126,670,347 | 97.75 | 2,911,065 | 2.25 |
| Anne E. Giardini | 127,562,682 | 98.44 | 2,018,730 | 1.56 |
| Saurabh Handa | 126,876,404 | 97.91 | 2,705,008 | 2.09 |
| Cyndi Laval | 129,481,351 | 99.92 | 100,061 | 0.08 |
| Nan Lee | 129,487,296 | 99.93 | 94,116 | 0.07 |
| John D. Lewins | 129,483,017 | 99.92 | 98,395 | 0.08 |
| Graham Wheelock | 128,845,696 | 99.43 | 735,716 | 0.57 |
Shareholders also voted in favour of the following matters:
- Set the number of directors at seven (7);
- Re-appointed PricewaterhouseCoopers LLP as auditor of the Company for the ensuing year and authorized the directors to fix the auditor’s remuneration;
- Approved the Amended Share Compensation Plan; and
- Approved the non-binding advisory resolution accepting the Company’s approach to executive compensation.
| Matter | Votes For | Votes Against | ||
| Number | % | Number | % | |
| Number of Directors (7) | 141,288,039 | 99.84 | 232,272 | 0.16 |
| Appoint Auditor | 140,605,688 | 99.35 | 914,622 | 0.65 |
| Amended Share Compensation Plan | 116,050,671 | 89.56 | 13,530,741 | 10.44 |
| Advisory Vote on the Executive Compensation | 124,657,640 | 96.20 | 4,923,772 | 3.80 |
All seven directors will serve on the Company's Board of Directors until the next annual meeting of shareholders or until their successors are elected or appointed.
Further details on the above matters are set forth in the Company's meeting materials, including the Management Information Circular dated May 22, 2024, that are accessible on K92’s website at www.k92mining.com and under the Company's issuer profile on SEDAR+ at www.sedarplus.ca.
Final voting results on all matters voted on at the AGM are also contained in the Report on Voting Results filed under the Company’s profile on the SEDAR+ website.
About K92
K92 Mining Inc. is engaged in the production of gold, copper and silver at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The Company declared commercial production from Kainantu in February 2018 and is in a strong financial position. A maiden resource estimate on the Blue Lake copper-gold porphyry project was completed in August 2022. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.
On Behalf of the Company,
John Lewins, Chief Executive Officer and Director
For further information, please contact David Medilek, P.Eng., CFA, President and Chief Operating Officer at +1-604-416-4445
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements include, without limitation: (i) the estimated use of proceeds of the Credit Facilities and the Accordion Feature; and (ii) the satisfaction of the conditions precedent to the Credit Facilities including the satisfaction of the additional conditions for the Accordion Feature.
All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors, many of which are beyond our ability to control, that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, without limitation, Public Health Crises, including the COVID-19 virus; changes in the price of gold, silver, copper and other metals in the world markets; fluctuations in the price and availability of infrastructure and energy and other commodities; fluctuations in foreign currency exchange rates; volatility in price of our common shares; inherent risks associated with the mining industry, including problems related to weather and climate in remote areas in which certain of the Company’s operations are located; failure to achieve production, cost and other estimates; risks and uncertainties associated with exploration and development; uncertainties relating to estimates of mineral resources including uncertainty that mineral resources may never be converted into mineral reserves; the Company’s ability to carry on current and future operations, including development and exploration activities at the Arakompa, Kora, Judd and other projects; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the availability and costs of achieving the Stage 3 Expansion or the Stage 4 Expansion; the ability of the Company to achieve the inputs the price and market for outputs, including gold, silver and copper; failures of information systems or information security threats; political, economic and other risks associated with the Company’s foreign operations; geopolitical events and other uncertainties, such as the conflicts in Ukraine, Israel and Palestine; compliance with various laws and regulatory requirements to which the Company is subject to, including taxation; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions, including relationship with the communities in Papua New Guinea and other jurisdictions it operates; other assumptions and factors generally associated with the mining industry; and the risks, uncertainties and other factors referred to in the Company’s Annual Information Form under the heading “Risk Factors”.
Forward-looking statements are not a guarantee of future performance, and actual results and future events could materially differ from those anticipated in such statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause actual results to differ materially from those that are anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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